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After long being ignored, the concept of the circular economy has re-emerged over the past decade in the form of a utopian solution and at the center of an ecumenical narrative in which it is presented as an alternative model to the linear economy. However, it is unclear what conditions need to be in place in order for this renaissance to prove to be sustainable. This article examines the construction of the narrative of the circular economy over time with a view to understanding what is not necessarily made explicit and what the limits of this alternative solution might be. Two different versions of the circular economy are outlined. A ‘weak circularity’ approach that simply adapts the dominant economic model and a ‘strong circularity’ model based on frugality and longer lifespans and more intense use of products.